A report on local and national farmland values shows prices are holding their own despite several down economic issues. Peoples Company president Steve Bruere says 2023 has been a transitional year for farmland after seeing so many transactions in 2022.
He says their report is not a survey but reviews all types of sales information and other factors. Iowa’s cropland has held its own along with the rest of the country.
The report shows Iowa cropland values overall up 8% this year. Bruere says the value of cropland can’t just be viewed based on the return you get from farming the ground.
Bruere says the ups and downs of corn and bean prices are only a part of figuring the value of farmland.
And there’s a limited number of acres to buy as he says only about 1% of all farmlands in the country hits the open market on an annual basis.
You can find out more about their land value report at the Peoples Company website.